A teen is given $1K to invest into Bitcoin - what would you recommend for them?

[delliaerd]

you just need to invest right? so, buy bitcoin at the lowes point and then sell the bitcoin at the higher point of the month, it's simple and less risk compared to trading or any other effort to grew up your bitcoin

You are absolutely right but only do simple  thing like that as you say ? how if while she/he want to do that as soon as she/he can but at the same time bitcoin price at the highest rate ? Should she/he wait the price down until lower price ? And Only stuck at that condition without do anything ? I think she/he must find many plans as reserve.

[a7mos]

If this teen is from America, he can buy things from purse.io by bitcoin with the discount they offer and then sell them locally for their full price. this will be a good arbitrage trade with not mush risk

[Jeremycoin]

The best and safest way is just by holding it and wait til the price increase, because the teen wouldn't lose anything and the price would definitely increase.

[Amph]

buy mining hardware for altcoin ethereum especially, mine for 3 motnhs, sell your hardware, profit, you know have double of your initial ivnestment, aka roi richead

or you can simpyl buy bitcoin and wait for the next pump, that it will certainly occur, don't trust those that think otherwise, pump are always bound to occure in the end

[SebastianJu]

He could upload it on bitfinex and use the free MarginBot to lend the USD out to traders. He would receive around 20% a year. At least it was that way some months ago.

The risk would be that bitfinex is an exchange and exchanges can go down.

Investments are always risky. You should think of them the way that you might get 100% in a year on top of your investment but when you start you lose 100% and the question is open if you will get your investment back at all.

That is a tremendous return rate, is this still occurring? I don't generally trust exchanges with my coins but with a return like that and knowing that finex has so far proven reliable, I might give it a go.

I'm not aware of any investment offering that. Though be happy about it. All of these ventures ended in scam, inept businessmans or other problems. Everyone invested did lose more than they won.

[BTCLovingDude]

He could upload it on bitfinex and use the free MarginBot to lend the USD out to traders. He would receive around 20% a year. At least it was that way some months ago.

The risk would be that bitfinex is an exchange and exchanges can go down.

Investments are always risky. You should think of them the way that you might get 100% in a year on top of your investment but when you start you lose 100% and the question is open if you will get your investment back at all.

That is a tremendous return rate, is this still occurring? I don't generally trust exchanges with my coins but with a return like that and knowing that finex has so far proven reliable, I might give it a go.

I'm not aware of any investment offering that. Though be happy about it. All of these ventures ended in scam, inept businessmans or other problems. Everyone invested did lose more than they won.

is this the margin funding feature of bitfinex you are talking about?

i did a little search and read about it, i think it is not a fixed interest rate but a changing rate that you can set as an offer which can be lower.

can anybody explain with some numbers how much is the potential of earning this way

[raribest2]

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

i won't advice a young teenager to invest only in bitcoin, bitcoin is a lot risky in my opionion, before go in bitcoin you need to study it a lot and have some skills, trading can be profitable like hodling

[SebastianJu]

He could upload it on bitfinex and use the free MarginBot to lend the USD out to traders. He would receive around 20% a year. At least it was that way some months ago.

The risk would be that bitfinex is an exchange and exchanges can go down.

Investments are always risky. You should think of them the way that you might get 100% in a year on top of your investment but when you start you lose 100% and the question is open if you will get your investment back at all.

That is a tremendous return rate, is this still occurring? I don't generally trust exchanges with my coins but with a return like that and knowing that finex has so far proven reliable, I might give it a go.

I'm not aware of any investment offering that. Though be happy about it. All of these ventures ended in scam, inept businessmans or other problems. Everyone invested did lose more than they won.

is this the margin funding feature of bitfinex you are talking about?

i did a little search and read about it, i think it is not a fixed interest rate but a changing rate that you can set as an offer which can be lower.

can anybody explain with some numbers how much is the potential of earning this way

Yes, it is not fixed. It is a normal market where you offer the loan for the price you want and others take it.

That is why I suggested marginbot. Free on the forum. It creates the offers automatically and makes sure that your money does not lie around useless and is getting the best rates.

I used it some time and it brings in returns. I think I calculated it to 24% a year. Or even higher? Anyway, I'm not sure if the reward dropped in the last months but you might try it and find out for yourself.

[techalt]

The lowest risk would be just buying the bitcoins with that amount and holding it, There are some investments in the bitcoin world but all are risky money investments. I would suggest to that person to invest a small amount in exchanges and exchanging BTC to USD...

[jacktheking]

I'd recommend him to start a faucet. Spend 50 USD to buy a cheap but good hosting plan. Next, 50 USD hiring a coder (assuming he/she have no programming knowledge) to code a very unique and good faucet (not off-the-shelve script). Spend another 50 USD for SEO. To rocket off the newly created faucet, put in another 50 USD for advertising. He/she should start breaking profit after giving out 100 USD to his/her faucet users. 300 USD and he can get a somewhat steady income. .

[SebastianJu]

I'd recommend him to start a faucet. Spend 50 USD to buy a cheap but good hosting plan. Next, 50 USD hiring a coder (assuming he/she have no programming knowledge) to code a very unique and good faucet (not off-the-shelve script). Spend another 50 USD for SEO. To rocket off the newly created faucet, put in another 50 USD for advertising. He/she should start breaking profit after giving out 100 USD to his/her faucet users. 300 USD and he can get a somewhat steady income. .

Well I guess when he has to ask for 10 USD then he surely has no 150 USD to spend on developing and advertising a faucet service.

And I think most faucets fail. I'm not sure if it only happens because their admins are not working properly on it though.

[~Bitcoin~]

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

I am also going to get similar amount of money from my parents after show some of my success with altcoin trading. I will put that money too in altcoin trading but i know it is quite risky but with small investment doing bitcoin trading only is not profitable.

[BTCBinary]

If I gave a $1000 to a teen I would teach him all about bitcoin and all about what he could do with his bitcoin.
I would prepare him and them he would make his own choice!

[caixa]

Well, I would advise him to start using p2p loans website like, btcjam or btcpop. I have personally used them and invested in few loans. They are giving me good return.

[iv4n]

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

In education, to learn programming. And to start with some faucet to learn everything from begging. Along the way u will find what u like most. One day u will have your own sites and faucets.
Also put some coins in wallet and earn it while u learning things around, one day bitcoin will worth a lot and your coins will worth more.
I wish luck to follow u on your journey.

[Raimonn]

1k $ could be a lot of money (it depends on from witch county is this teenager), i think that before recommending to invest its better to recommend him to learn about what bitcoin is and how it works. If he didn't invest or managed trading before i would recommend buying bitcoins and wait some time to see if its value grow, not to invest in fast methods that aren't safe.

[RoommateAgreement]

buying bitcoin with that much money is the best option at the current rate in my opinion. if all the speculations about bitcoin price is half right in a couple of months you can turn that into $2K just by holding.

[romero121]

i would suggest him to do trade by buying some bitcoins with the $1k. Than this only gambling can be recommended which is good than any other means of earning.

[actmyname]

Let the teen invest some of the coins in some trustworthy sites and make them hold the rest. It's better to stave off and just wait a bit for the majority of your coins while the price increases. Let their patience reward them, and that'll be a good lesson for the future as well. There are different investments that can be risky but may pay off in the long run, like investing into a gambling site. Though it holds risk to it, with $1K you can part with some of it as long as you hold the rest. Make sure the teen does not go into gambling. That holds significant potential loss.

[SebastianJu]

At least he should not try to trade with the whole amount. If he is a beginner in trading then I can promise you he will lose his coins pretty fast.

If he holds 1k in Bitcoin then he should start trading with really small amounts. Like $20. Not more. He will lose it anyway. A couple of times when he still tries. Trading has a nice long learning curve...